Harvest Fund Management Co. Ltd Purchases 27,631 Shares of Thomson Reuters Corp $TRI

Harvest Fund Management Co. Ltd grew its position in shares of Thomson Reuters Corp (NASDAQ:TRI) by 95,279.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,660 shares of the company’s stock after purchasing an additional 27,631 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Thomson Reuters were worth $4,296,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AlphaCore Capital LLC bought a new stake in Thomson Reuters during the second quarter valued at $39,000. Cullen Frost Bankers Inc. grew its position in Thomson Reuters by 50.0% during the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the company’s stock worth $39,000 after buying an additional 83 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Thomson Reuters by 30.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 309 shares of the company’s stock worth $62,000 after acquiring an additional 73 shares during the last quarter. Westside Investment Management Inc. increased its stake in Thomson Reuters by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 338 shares of the company’s stock worth $52,000 after acquiring an additional 169 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Thomson Reuters in the 3rd quarter valued at about $57,000. Institutional investors own 17.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Canadian Imperial Bank of Commerce set a $183.00 price target on Thomson Reuters and gave the company an “outperformer” rating in a research report on Friday, January 16th. BMO Capital Markets set a $165.00 price objective on shares of Thomson Reuters in a research report on Friday, February 6th. Scotiabank reaffirmed an “outperform” rating and issued a $156.00 target price (down from $189.00) on shares of Thomson Reuters in a research note on Friday, February 6th. Wells Fargo & Company set a $140.00 target price on shares of Thomson Reuters and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Thomson Reuters in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $151.42.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock opened at $96.34 on Friday. The firm has a market capitalization of $42.87 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 1.48 and a beta of 0.81. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.11. Thomson Reuters Corp has a 12 month low of $79.71 and a 12 month high of $218.42. The business’s 50-day moving average price is $106.39 and its 200-day moving average price is $134.51.

Thomson Reuters (NASDAQ:TRI) last announced its quarterly earnings data on Thursday, February 5th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.01. The company had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Thomson Reuters had a return on equity of 14.51% and a net margin of 20.09%.

Thomson Reuters Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th were paid a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.7%. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, February 17th. Thomson Reuters’s payout ratio is 78.68%.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.